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Data collected from supermarket checkout counters can be used to evaluate the effect of price on the sales of any product. Weekly data was collected on a particular beverage brand, including sales (y, in number of units) and price (x, in dollars) from 8 stores. In the sample data, r has a sample mean of 20 and a sample standard deviation of 2, while y has a sample mean of and a sample standard deviation of The sample correlation between r and y is -0.8. S 172 (1) Compute the simple linear regression equation (2) Carry out a test at significance level 0.01 to decide whether there is a linear rela- tionship between r and y. Your conclusion should be based on a P-value. You may use bounds for the P-value. (3) Would the conclusion of (2) have changed if you had tested appropriate hypotheses to decide whether there is a negative linear association in the population? Explain.

Data collected from supermarket checkout counters can be used to evaluate the effect of price on the sales of any product. Weekly data was collected on a particular beverage brand, including sales (y, in number of units) and price (x, in dollars) from 8 stores. In the sample data, r has a sample mean of 20 and a sample standard deviation of 2, while y has a sample mean of and a sample standard deviation of The sample correlation between r and y is -0.8. S 172 (1) Compute the simple linear regression equation (2) Carry out a test at significance level 0.01 to decide whether there is a linear rela- tionship between r and y. Your conclusion should be based on a P-value. You may use bounds for the P-value. (3) Would the conclusion of (2) have changed if you had tested appropriate hypotheses to decide whether there is a negative linear association in the population? Explain.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Data collected from supermarket checkout counters can be used to evaluate the effect of price on the sales of any product. Weekly data was collected on a particular beverage brand, including sales (y, in number of units) and price (r, in dollars) from 8 stores. In the sample data, r has a sample mean of 20 and a sample standard deviation of 2, while y has a sample mean of and a sample standard deviation of 9 The sample correlation between r and y is -0.8. 172 (1) Compute the simple linear regression equation (2) Carry out a test at significance level 0.01 to decide whether there is a linear rela- tionship between z and y. Your conclusion should be based on a P-value. You may use bounds for the P-value. (3) Would the conclusion of (2) have changed if you had tested appropriate hypotheses to decide whether there is a negative linear association in the population? Explain. (4) How would the estimates of Bo, B1, and o change if n > 8? Explain.
Transcribed Image Text:Data collected from supermarket checkout counters can be used to evaluate the effect of price on the sales of any product. Weekly data was collected on a particular beverage brand, including sales (y, in number of units) and price (r, in dollars) from 8 stores. In the sample data, r has a sample mean of 20 and a sample standard deviation of 2, while y has a sample mean of and a sample standard deviation of 9 The sample correlation between r and y is -0.8. 172 (1) Compute the simple linear regression equation (2) Carry out a test at significance level 0.01 to decide whether there is a linear rela- tionship between z and y. Your conclusion should be based on a P-value. You may use bounds for the P-value. (3) Would the conclusion of (2) have changed if you had tested appropriate hypotheses to decide whether there is a negative linear association in the population? Explain. (4) How would the estimates of Bo, B1, and o change if n > 8? Explain.
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